The Company reported a loss of $0.26 per share in the fourth quarter. The Campbell Fresh business accounted for about 13 percent of sales in the quarter.
Denise Morrison, chief executive, said she was not pleased with the fourth quarter even though profits for the year to June were in line with previous guidance.
Campbell Soup said it harvested carrots - the best known products of Bolthouse - prematurely in spring. The 3.8 million recalled drinks had possibly spoiled due to problems in its manufacturing equipment and process.
Campbell shares dropped more than 4 percent in premarket trading.
"Strategy was not the issue". Dissatisfied customers bolted for other suppliers, Morrison said.
Campbell Soup Company is a food company, which manufactures and markets food products.
The soup maker has been expanding its Campbell Fresh division through several acquisitions including Bolthouse in 2012. The market experts who believe in the long-term growth story of the stock has a positive target of $68 while the conservative estimate is $56.
Its Campbell Fresh business saw its operating profit plunge 62 percent in the quarter. She said the company addressed the equipment and process issues that led to the Bolthouse beverage recall, but that production levels remained lower as a result. Higher costs and lower sales of carrots also hampered results.
Company latest quarter ended on 30 Jun 2016, company announced earnings of $0.72. Organic sales decreased 1 percent driven by lower volume, partly offset by higher selling prices.
Campbell expects sales for its fiscal 2017 to be flat to up 1 percent. The company forecast adjusted earnings of $3.00-$3.09 per share for the year ending July, below analysts' estimates of $3.14.
Over the past five trading sessions shares of Campbell Soup Company (NYSE:CPB) are -0.9%; -1.8% for the month; -0.7% for the last quarter; -1.12% for the past six-months; and 29.51% for the last 12 months. Zacks Investment Research lowered shares of Campbell Soup from a "buy" rating to a "hold" rating in a report on Tuesday, May 24th.
Total revenue dipped slightly to $1.69 billion in the period, meeting Wall Street forecasts.
Campbell Soup Company (NYSE:CPB) has paid out $0.312 per shares as dividend in the last one year while a year ago it paid $0.312 in dividends. Analyst's mean target price for Broadcom Limited (NASDAQ:AVGO) is 2.90 while analysts mean recommendation is 1.70.
Stay on topic - This helps keep the thread focused on the discussion at hand.